On-demand Rides with Bikes: A New Business Idea

Running head: THINK BIG
Think Big
[On-demand Rides with Bikes]
Name of the student:
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1THINK BIG
Executive summary
The main purpose of this project is to develop a new business idea and let the readers learn the
ways of developing and running a new business. In this project, “On-demand riding with Bikes”
is being projected as the proposed business. The reason for selecting this idea as stated in this
project is the rising demand for cheaper and friendlier riding with app-based taxis and other
transport means. The proposed idea is rather riding with bikes. This has been picked up due to
being cheaper even than the taxis.

2THINK BIG
Table of Contents
1. Introduction..................................................................................................................................3
2. Customer Problem.......................................................................................................................3
3. The persuasive argument of the customer benefits......................................................................4
4. Discussion of the proposed business model................................................................................5
5. The key interrelationships............................................................................................................6
6. Critical success factors................................................................................................................7
7. Critical risks and assumptions.....................................................................................................7
8. Evaluation of the overall feasibility.............................................................................................7
9. Conclusion...................................................................................................................................7
References........................................................................................................................................9
Appendix:......................................................................................................................................11
Business Model canvas:.............................................................................................................11

3THINK BIG
1. Introduction
The main purpose of this project is to discuss and describe a new business idea to be
implemented with the help of a business model as proposed by Osterwalder & Pigneur (2010).
The new business idea is “On-demand Rides with Bikes”. This business idea is in response to
and to address the employment crisis in Australia. Though the unemployment rate is falling
sharply, it is still problematic. According to the latest information released by the Australian
Bureau of Statistics (ABS), the unemployment rate stood steady at 5.0% in 2019 (Abs.gov.au,
2019). There is still the need for a further fall in the unemployment rate to attain 100% full
employment in Australia. It is also noteworthy as well that there is a significant surge in the
minimum wage (The Guardian, 2019). The rise in the minimum wage should excite those who
are still jobless or wish to own an independent career having no compulsion of the employer.
These concerns are being tried to cover in this study with a new business idea. The proposed
business idea promises to provide a new and exciting career opportunity to many especially the
millennials as they are physically fit for this opportunity.
2. Customer Problem
The demands for cost-efficient and convenient inner-city transport have grown massively
in Australia over a span of the past five years (Ibisworld.com, 2019). This is the reason why on-
demand rides have gone to huge popularity over the same span of time. People those who can
afford “On-demand Rides” want to skip from using public transport due to the many challenges
it offers. The list of challenges includes longer wait-time, inflexible transporting system, late
reaching due to multiple stoppages in a way to the destination (Miller et al., 2016). Due to all
these reasons people those who use public transport are not just getting late to their offices,
educational institutions and other places but are also being troubled in their way to these places.